Economics Level 3

The economics course at Level 3 will enable students to attain economic literacy and understanding which will allow them to develop a continuing interest in contemporary economic issues. The skill of reasoning clearly by means of analytical techniques will allow students to present and interpret economic data and arguments in a clear and concise manner.

General
This course aims to:
1.Demonstrate understanding of the efficiency of market equilibrium
2.Demonstrate understanding of the efficiency of different market structures using marginal analysis
3.Demonstrate understanding of micro-economic concepts
4.Demonstrate understanding of government interventions to correct market failures
5.Demonstrate understanding of macro-economic influences on the New Zealand economy

This level of study is organised into five major Topics.
Theme 1 The Conceptual basis of Economics
You will demonstrate an understanding of Market Equilibrium, different Market Structures using Marginal Analysis, Understand Micro-Economic Concept, Understand how Government intervenes to correct Market Failures and understand Macro-Economic influences on New Zealand Economy.
Theme 2 Processing
You will learn how to process, present and analyse statistical data in relation to two contemporary economic issues.
Theme 3 Economic Models
The economic models assessed will be selected from the supply and demand model for the goods and /or service markets, resource markets (e.g. labour market) and internationally traded goods markets. For a comprehensive understanding, candidates may be required to demonstrate an understanding of elasticity concepts.
Theme 4 Government Interventions
Demonstrate understanding of government interventions to correct market failures.
Theme 5 Macro-economic influences
Demonstrate understanding of macro-economic influences on the New Zealand economy